Alma del Mar
Minutes
Finance Committee Meeting
Date and Time
Thursday September 21, 2023 at 9:00 AM
Christine Fisher is inviting you to a scheduled Zoom meeting.
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Meeting ID: 852 1496 6406
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Meeting ID: 852 1496 6406
Passcode: 361161
Find your local number: https://us02web.zoom.us/u/kuoBNUT0J
Committee Members Present
C. Holley (remote), J. Baptist (remote), J. McDonough (remote), P. Ditchfield (remote)
Committee Members Absent
None
Guests Present
C. Fisher (remote), E. Darrow (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
FY24 August Financials
B.
FY23 Audit Update
Reviewed Audit Report timeline and committee will review report prior to Audit Exit presentation by Daniel Dennis LLP.
C. Holley questioned why the FY23 annual appeal donations are still a receivable on the balance sheet. C. Fisher explained that the donations are from Q4 and the Foundation doesn't meet over the summer months. Foundation will approve cash transfers at their first FY24 meeting in October.
J. McDonough inquired about the interest rate in the intra-fi bank accounts. C. Fisher confirmed it was 3.7%.
P. Ditchfield asked why salaries are tracking below YTD Budget. C. Fisher noted that the summer payroll accrual hadn't been booked, will be reflected in Q1 financials. Also noted that there are still some unfilled positions as well.